The New York Times writes about wealthy students at college, dateline Ann Arbor:
“It’s very much an issue of fundamental fairness,” Lawrence H. Summers, the president of Harvard and a former treasury secretary, said in an interview. “An important purpose of institutions like Harvard is to give everybody a shot at the American dream.”
The University of Maryland recently said it would no longer ask students from families making less than $21,000 a year to take out loans, and would instead give them scholarships to cover tuition. Officials at Harvard, the University of North Carolina and the University of Virginia all recently announced similar, even more generous policies.
Over all, at the 42 most selective state universities — including the flagship campuses in California, Colorado, Illinois, Michigan and New York — 40 percent of this year’s freshmen come from families making more than $100,000, up from about 32 percent in 1999, according to the Higher Education Research Institute. Nationwide, fewer than 20 percent of families make that much money. … “